TPG.L Regulatory News (TPG)

Corac Group plc

("Corac" or the "Company")

Fundraising under consideration

The Company notes the recent speculation regarding its intention to undertake a placing of new ordinary shares. The Board confirms that it is considering a placing and open offer of around £20m at 15 pence per share, of which it is expected that approximately £15m will be placed firm. 

The Board of Corac is considering the placing and open offer to exploit opportunities to develop and commercialise its core technology in existing and new applications. It is envisaged that the placing and open offer under consideration would provide the Company with sufficient capital to implement its business plan.

Investors should be aware that there is no certainty of the placing or open offer taking place and further details will be notified in due course.

Enquires

Corac Group plc 01895 813463

Phil Cartmell, Executive Chairman

Mark Crawford, Commercial & Finance Director 

Cenkos Securities plc 020 7397 8924

Elizabeth Bowman / Ivonne Cantu

Buchanan Communications 020 7466 5000 

Richard Darby

Ben Romney